Insider Selling: Paul Arling Unloads 4,026 Shares of Universal Electronics Stock (UEIC)
Universal Electronics (NASDAQ:UEIC) CEO Paul Arling sold 4,026 shares of the stock on the open market in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $31.77, for a total value of $127,906.02. Following the completion of the transaction, the chief executive officer now directly owns 131,450 shares in the company. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
UEIC has been the subject of a number of recent research reports. Analysts at Pacific Crest downgraded shares of Universal Electronics (NASDAQ:UEIC) from an “outperform” rating to a “sector perform” rating in a research note to investors on Friday, August 9th. They now have a $26.00 price target on the stock. Separately, analysts at Dougherty & Co raised their price target on shares of Universal Electronics (NASDAQ:UEIC) from $27.00 to $36.00 in a research note to investors on Friday, August 9th. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Universal Electronics (NASDAQ:UEIC) from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, July 5th. They now have a $32.00 price target on the stock.
One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Universal Electronics presently has an average rating of “Buy” and a consensus price target of $31.33.
Universal Electronics (NASDAQ:UEIC) traded up 1.38% during mid-day trading on Wednesday, hitting $32.42. 59,978 shares of the company’s stock traded hands. Universal Electronics has a 52-week low of $14.36 and a 52-week high of $35.74. The stock has a 50-day moving average of $31.28 and a 200-day moving average of $26.58. The company has a market cap of $495.4 million and a price-to-earnings ratio of 26.23.
Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, August 8th. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.41 by $0.06. The company had revenue of $136.10 million for the quarter, compared to the consensus estimate of $127.04 million. During the same quarter last year, the company posted $0.41 earnings per share. Universal Electronics’s revenue was up 16.6% compared to the same quarter last year. On average, analysts predict that Universal Electronics will post $1.75 earnings per share for the current fiscal year.
Universal Electronics Inc develops and manufactures a line of pre-programmed universal wireless remote control products, audio-video accessories, and software that are marketed for home entertainment systems.
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